Your answer is incorrect. Waterway Company took a physical inventory on December 31 and determined that goods costing $170,000 were on hand. Not included in the physical count were $23,000 of goods purchased from Pelzer Corporation, FOB shipping point, and $20.500 of goods sold to Alvarez Company for $28,500. FOB destination. Both the Pelzer purchase and the Alvarez sale were in transit at year-end. What amount should Waterway report as its December 31 inventory? Waterway ending InventoryYour answer is incorrect. In its first month of operations, Sheridan Company made three purchases of merchandise in the following sequence: (1) 300 units at $8. (2) 480 units at $9. and (3) 250 units at $10. Assuming there are 380 units on hand, compute the cost of the ending inventory under the (e) FIFO method and (b) LIFO method. Sheridan uses a periodic inventory system. FIFO LIFO Cost of the ending inventoryIn its first month of operations, Waterway Company made three purchases of merchandise in the following sequence: (1) 310 units at $7. (2) 460 units at $8, and (3) 230 units at $9. (a) Calculate the average unit cost. (Round answer to 2 decimal places, e.g. 15.25.) Average unit cost $ e Textbook and Media Save for Later Attempts: 0 of 5 used Submit Answer (b) Compute the cost of the ending inventory under the average-cost method, assuming there are 400 units on hand. (Round answer to O decimal places, e.g. 1,250.) The cost of the ending inventory $X Your answer is incorrect. Waterway Company took a physical inventory on December 31 and determined that goods costing $170,000 were on hand. Not included in the physical count were $23,000 of goods purchased from Pelzer Corporation, FOB shipping point, and $20.500 of goods sold to Alvarez Company for $28.500. FOB destination. Both the Pelzer purchase and the Alvarez sale were in transit at year-end. What amount should Waterway report as its December 31 inventory? Waterway ending Inventory 172500